Herndon, VA, Oct. 05, 2017 (GLOBE NEWSWIRE) -- HERNDON, Va. – October 5, 2017 – Deltek, the leading global provider of enterprise software and information solutions for project-based businesses, announced today that it and its parent company, Project Diamond Intermediate Holdings, Corp., have entered into an agreement to acquire Onvia.
Onvia – headquartered in Seattle, WA, and traded on the NASDAQ under symbol “ONVI” – is a leader in sales intelligence and acceleration for businesses selling to the public sector. Onvia provides enterprise, mid-market and small business customers with comprehensive federal, state and local government contracting leads. The addition of Onvia is intended to further strengthen Deltek’s market leading GovWin IQ market intelligence and information solution offerings.
“We are very excited about the opportunities created by this acquisition for our customers seeking to expand their business in the public sector market at all levels,” said Mike Corkery, President and CEO of Deltek. “We look forward to closing this deal in the coming weeks and welcoming the Onvia team to the Deltek family.”
Under the terms of the agreement, Deltek’s parent company will acquire all of the outstanding shares of Onvia’s common stock for $9.00 per share in an all-cash tender offer. The Onvia Board of Directors unanimously approved the transaction and is recommending that Onvia stockholders tender their shares in the offer. The transaction is conditioned upon satisfaction of the minimum tender condition, which requires that shares representing more than 50 percent of Onvia’s common stock be tendered and other customary closing conditions. The transaction is expected to close during the fourth quarter of 2017. To learn more about Deltek, please visit the website at Deltek.com.
Onvia (NASDAQ: ONVI) is the leader in sales intelligence and acceleration for businesses selling to the public sector. Onvia provides enterprise, mid-market and small business customers with the most comprehensive set of federal, state and local government contracting leads. Clients grow their sales pipeline with access to bids, RFPs and future spending data, along with agency contacts, competitor information and market analytics – all backed by Onvia's smart search technology, CRM integration and expert support. Resolving the friction in this $2 trillion market, Onvia creates mutual value for public and private sectors, taxpayers and society at large.
Deltek is the leading global provider of enterprise software and solutions for government contractors, professional services and other project-based businesses. For decades, we have delivered actionable insight that empowers our customers to unlock their business potential. 22,000 organizations and millions of users in over 80 countries around the world rely on Deltek to research and identify opportunities, win new business, recruit and develop talent, optimize resources, streamline operations and deliver more profitable projects. Deltek – Know more. Do more.® www.deltek.com